Xinhuanet, Chicago, September 8th (Reporter Zhu Zhu) Supported by weaker-than-expected US job market data, coupled with a large number of bargain-hunting buying orders, internatioPrecious metals news RSS feednal gold prices rebounded strongly on the 8th. On the same day, the most actively traded December contract on the gold futures market of the New York Mercantile Exchange closed at $1,857.5 per ounce, an increase of $39.9 or 2.2% from the previous trading day.
KingsviewFinancial senior market strategist Charles Nedoss said that regardless of whether the Fed really adopts quantitative easing policy, the market is currently happy to hear similar voices. He said that if the Fed finally adopts further quantitative easing policies, the market will respond and investors will continue to increase investment.
The Torino newspaper "LaStampa" reported that the International Monetary Fund may provide Italy with 400-600 billion euros of financial support, thereby providing Italian Prime Minister Monti with a window of 12-18 months for reforms to restore the market’s debt repayment to Italy Confidence in ability.
On the same day, the price of silver futures for March delivery rose 1.3 cents to close at $31.542 per ounce, an increase of 0.04%. The price of platinum futures for April delivery rose 4.2 US dollars to close at 1694.1 US dollars per ounce, an increase of 0.25%, another record high.
After the financial crisis, although the world’s major economies have entered the recovery phase to varying degrees, various thorny issues still coexist, such as the high unemployment and inflation rate in the United States, the controversial quantitative easing policy, and the intensifying European sovereign debt crisis , Have caused ups and downs in the trend of foreign exchange and gold.
On the 22nd, US Treasury Secretary Geithner, Federal Reserve Chairman Bernanke, and New York Fed Chairman Dudley stated in a joint statement that they are confident that Congress will raise the $14.29 trillion debt ceiling by August 2. US President BPrecious metals news RSS feedarack Obama said that in any case the debt ceiling will be raised, and debt default is not one of the options.
In April 2003, the listing of gold ETFs brought a substantial increase in gold investment demand. Grubb said that, especially in the past two years, gold ETF investment has risen sharply. At present, the gold holdings of all gold ETFs in the world have reached more than 1,700 tons, worth about 65 billion US dollars. Gold ETF demand accounts for 9% of global gold demand.
Indeed, the rise in the gold market is not in line with fundamental factors, because apart from that, the physical demand for gold in the European and American markets is basically stable, and the impact of market demand on prices is not only lagging, but the current demand growth rate has not fluctuated significantly. Case. The increase in the price of gold caused by the expected depreciation of the dollar is more in line with the actual situation.
The recent performance of international gold prices has been lacklustre, and the August New York gold contract oscillated between 1515 and 1554 US dollars. The recent changes in institutional operating styles and the diversion of funds have led to the inaction of gold prices, but the golden light is hard to retreat. Investors can wait for the buying opportunities after the return of funds.